BANKRUPT NOT PRESENT.

New Zealand Herald, Volume LXVII, Issue 20564, 15 May 1930, Page 11

BANKRUPT NOT PRESENT.

COMMENT BY COUNSEL. ATTENDANCE DESIRED. -"I certainly would like the bankrupt to be present; I have some very pertinent questions to ask liim," said Mr. C. Waddingham. yesterday at a meeting of creditors in the estate of Charles James Williams, clerk, late of Auckland, and at present residing at .Waipukurau. The acting-official assignee, Mr. G. W. Brown, presided. Mr. Waddingham appeared on behalf of the only creditor represented and Mr. S. Armstrong appeared for' the bankrupt. A statement received from the bankrupt showed liabilities amounting to £243 and no assets. The statement explained that bankrupt had been employed by various insurance companies as a clerk for some years and had averaged £5 a week in wages. In August, 1925, he purchased a section in Mission Bay. The land cost £330 and approximately £6O had been paid as a deposit. At that time ho borrowed £2OO. In July, 1926, having j-eceived the promise of a first mortgage of £IOOO on the house and section, he commenced to build. After beginning building ho received only £BOO and he found himself placed in an awkward position. In his endeavour to straighten out his tangled financial affairs most of the money borrowed in the first place was used up. Finally, the building was transferred to the builder to arrange liis account. As bankrupt had no house, he went to live with his wife's people in Waipukurau. He was out of work for 12 months, but during the past 12 months he had been engaged at £3 5s a week. In a supplementary statement, bankrupt explained that lack of funds prevented him from attending the meeting. "I think the bankrupt should attend." said Mr. Waddingham. "He had no right to filo the petition in Auckland. He should have done so in Masterton or Napier." The assignee expressed the opinion that it might he necessary either for creditors to provide the money for bringing bankrupt to Auckland, or the bankruptcy might havo to be transferred to Masterton. The meeting was adjourned sine die to enable the assignee to make inquiries.